Interpublic today posted revenues of $1.74 billion for the first quarter of 2016, revealing a revenue increase of 3.9 percent from $1.68 billion in the first quarter of 2015, with organic revenue growth of 6.7 percent compared to the year prior.
The figures reveal a continuing trend of strong organic gains at the ad/PR combine, particularly in the U.S., where organic revenue grew 8.3 percent, compared to 4.3 percent internationally. IPG had witnessed a similar 5.2 percent surge in organic revenue during 2015's fourth quarter.
Operating income at the holding company was $20.9 million for Q1, a skyrocketing leap from the $7.8 million reported in operating income for 2015's first quarter.
Q1 net income loss was $2.7 million, an improvement from its $4.2 million loss in 2015's first quarter. Total operating expenses increased 3.2 percent in Q1 from a year prior.
IPG’s Constituency Management Group, which includes PR agencies Weber Shandwick, Golin and DeVries Global, among others, grew approximately 4 percent, revealing 3.2 percent organic growth. Leading this growth, according to Friday’s earnings call, were agencies Weber Shandwick, Octagon and Golin.
Weber Shandwick CEO Andy Polansky told O'Dwyer's that digital, social and content marketing work fueled growth across the CMG portfolio, with Weber Shandwick registering high single-digit organic growth in the quarter on top of double-digit gains in the first quarter of 2015.
"Seventeen Weber Shandwick operations around the world had double-digit organic growth in the quarter, with a robust performance from the healthcare, consumer and corporate practices," Polansky said.
IPG CEO Michael Roth, in a Friday earnings statement, said that "while the first quarter is seasonally small" for the global advertising holding company, its performance for the quarter demonstrates that IPG remains on target to produce "on the high end" of its projected organic revenue growth goal of between three and four percent for the year.
"We are pleased to report another quarter of very strong performance, driven by solid contributions from across the portfolio," Roth said. "Our results reflect growth with existing clients, as well as new business wins, and strength in all geographic regions, led by notable domestic performance."
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